On-Chain Update: Bullish Indicators Despite Price Dips

On-Chain Update: Bullish Indicators Despite Price Dips

Despite the recent bitcoin sell off, there are several very bullish on-chain indicators showing HODLers are accumulating through this dip.At the time of this writing, bitcoin’s price is in the midst of a consolidation that has lasted almost two weeks, currently sitting at $47,200. One of the most important data points that can be used to generally call bottoms of corrections is the spent output profit ratio (SOPR) metric. This measures profit-taking, with 1.00 essentially marking the break-even point. In bitcoin bull markets, SOPR rarely dips below 1.00 and if it does, this can indicate a....


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Analyzing seven key on-chain indicators can give us major hints as to when the bitcoin price is at the top or bottom of the current market cycle.